Coworking company Innov8 profit surges to $7.44m

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Coworking startup Innov8, owned by OYO, reported a rise in profit after tax for the FY24.

The profit reached 62 crore rupees (US$7.44 million), up from 2.5 crore rupees (US$0.3 million) the previous year.

The company cites its asset-light model and strategic locations in metro areas as key factors.

The company plans to raise 100 crore rupees (US$12 million) in 2025 for acquisitions and technology upgrades.

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